Tag Oil to drill alone on East Coast

Tag Oil intends going it alone in its planned exploration for oil and gas on the East Coast of the North Island.

It had originally intended drilling in a joint venture with fellow energy company Apache, but that agreement has now been terminated.

Apache is paying Tag a lump sum which it will use to drill up up to four onshore wells on the East Coast.

 Drilling of the first well is scheduled for late March, and the company intends using conventional drilling techniques similar to those used in Taranaki.

Taranaki Daily News